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Letter from Greece: The gates of hell on earth

A Fin24 user who lives in Greece says that looking into the future, she sees two gates but feels that whatever the outcome, Greece and its people are doomed. Christina Marks writes:

I really want to share with you my personal view and experience of living in Greece, hoping that I may give you a glimpse of what goes on in my mind. I am an average person, with basic knowledge of financial issues (spending money I guess does not count as knowledge). I work in the private sector, as a teacher, owning a small school.

You are all asking us to vote yes, stating that it really comes down to whether we want to continue being part of the euro. I had never supported the idea of exiting the eurozone, though many times I have heard of people saying it would be better. I have always considered myself as European. But one should consider what has taken place here in the last five years.

I have not completely understood if the money taken (loans that have been used in Greece) has been taken to pay our debt or if private debts (bank debts) became European. Should the case be that all taxpayers in the EU have a debt on their back originating from the banking sector; I cannot understand it with my simple financial knowledge. Why would we all have to pay for wrong choices made by bankers? Should it not be that they pay for their choices?

Anyway, I am a bit foggy there, so I will not insist. What I also do not understand is that if the problem to begin with was our debt, why on earth did they not proceed to a debt restructuring since it was known to all parties that our debt was not sustainable in 2012 and instead they chose to enter into a new agreement despite that fact. Did that help us in any way? Because helping our economy was the original plan, wasn’t it? Anyway, this is all too complicated for me.

For whatever the reason, we were told that we had to borrow money or go bankrupt, which would be disastrous. Not wanting to experience a bankruptcy I had no choice but to go along. I was told that since we borrowed money, there were terms we had to agree upon in order to receive help. Even if I did not trust my government, I did trust all those Europeans thinking that they know better. After all they wanted to help us get back on truck.

Then we had to borrow more money, and more terms came. People coming and going, discussing things I could hardly understand and the “troika” asking for more measures to be taken again and again and again. Every time we were to take money hell broke loose here, the fear of bankruptcy over our heads, the media bringing the end of the world.  A complete nightmare for me. Meanwhile taxes kept rising to the point of us not being able to pay them (and I really mean that although I managed to pay mine, I am the minority in Greece. Most people want to pay but simply cannot).

Paying insurance funds was unbearable for many in the private sector, so they lost their insurance. Wages or income in the private sector dropped to a level that most people had to choose between paying tax or eating or paying electricity bills (what would you choose, really?).

Unemployment rose to about 28% and among young people to about 50%. Many just worked part-time receiving very little money. Others received no money at all although they worked or received their money whenever they were given any, feeling grateful even for that.

Getting married? Having kids? Living on what?

Young people were stuck living with their parents, having no or very little income and receiving “pocket money” if their parents could afford it. Having dreams? Getting married? Having kids? Living on what? Many people had to look after their old parents (count me in), trying to financially help them or find solutions to health problems with no real help. Parents who have raised children, paid taxes and worked hard all their lives, asking their children with a low income, for “pocket money”. Imagine having both unemployed children and parents in need. 

I do recall an incident of my friend’s father being in hospital. The nurse was kindly asked for some cotton wool and replied that there wasn’t any, sorry, but it could be bought from a shop. When bought she politely asked if she could keep the rest for other patients! I do recall my mother in the intensive care, dying. We had to bring our own masks to enter the ICU since there weren’t any. Many just went in with no masks, bringing their germs together. That was before the elections, before negotiations.

So wait a minute. European country? Developed country? Is that a joke? And yet, I would not regret all this if I had a prospect. But where is that prospect? Where is my hope? Our debt has somehow increased. Growth is a word I have to look up in the dictionary, since so many businesses just close down. More people desperate, more unemployed. And that was only about 50% implementation of the programme for Greece?

So if the programme which has now been lost was to be completely implemented, where would that lead? To a higher unsustainable debt? To an even lower income? To even greater poverty? To even worse health structures? How many more people would be without food or electricity? How would I ever be able to survive? Who would I help first?

Must we vote yes for things that lead to nowhere?

I am asked to vote “yes”. To all the above? Am I asked to agree to things that lead to nowhere, that lead to my extinction? Is that what the EU is all about? I had hoped that they knew better, I had trusted them. I am asked to pay even more taxes when I cannot afford existing ones. I am asked to demolish rights that other European countries protect.

Many things in my country need to be changed. Corruption? Yes. Tax evasion? Yes. Please do so. Restructuring the public sector? Yes, surely.

This is exactly the reason that I said that enough is enough with previous governments which existed in Greece for so many years. If their governance did not lead to solutions (and chances have been given so many times) then it was high time we changed things. And we did so. I did not vote for them because I hold them responsible for the situation we found ourselves in. Something was not done right and I wanted to lay my trust to others, with the dream of a better Greece even if it took time to do so. It took time getting here. But there was hope, after so long.

I voted for this new government on the grounds that they will keep us in the euro but try and achieve a better deal. It seems that this is not possible. Should they have accepted the terms offered? They had no such “remit” from the people. Should they have just refused the deal? They did. It is too big a choice to make, especially when elected on different terms. Do I trust them? Who should I trust? History will tell if the referendum was the right choice.

If I vote for “no” then EU leaders suggest that I refuse my European identity which is not the case. I am European, I have no intention to stop being so. But I am told that if I disagree to all the above, if I don’t comply, then I will be forced to exit the eurozone and maybe the EU too. I will be forced simply because there will be no deal (with the above-mentioned outcome) and then no financial “help” can be given, and then the banking system will collapse and then we have to exit the euro and print our own money with very little value. Should that happen, it is of course a disaster as the implementation of the measures asked is.

So my friends, I look into the future and all I see is two gates. The gates of hell on earth. I gaze at both of them and I know that my country, my people, are doomed either way. My future, my dreams, my hopes are gone, whatever the outcome. I try not to let this overwhelming feeling of fear and desperation reach my soul, I try to embrace myself with courage to withstand what follows and convince myself that somehow I will survive.

Does it really matter what I vote? What do you think? Which death is better? Please, think again before you tell me again what to vote for. You are not here. You have no idea. And I hope you never will.

Best wishes to rest of the world, as it seems we stand alone!
Christine Marks

Disclaimer: All letters and comments published in MyFin24 have been independently written by members of the Fin24 community. The views are therefore their own and do not necessarily represent those of Fin24.

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